Maldives Transport and Contracting Company (MTCC) has recorded a decline in its income and profits in 2019.
According to annual financial reports of MTCC for the past year, the income of MTCC was at USD 71.8 million, which is 15.4% less compared to 2018, when an income of USD 82.79 million was recorded.
Financial reports of MTCC indicate the company recorded a profit of USD 2.15 million, which is about USD 646,830 less compared to 2018.
MTCC conducted 46 construction projects in the final quarter of last year. While it received 19 new contracts in 2019, 13 projects were launched by the end of the year. MTCC completed 5 of those projects by the end of 2019.
The annual report published by MTCC indicates it expanded its transport operations in 2019, in addition to the various construction and development projects.